“CFG reported better than expected results: $0.78 vs. our/consensus’ $0.76 estimates. The $0.02 beat was split ~50/50 between net income and lower share count when compared to our estimates. The bigger takeaway is that the slow, steady momentum continues. The ROTCE trend remains up and to the right with 1Q18 ROTCE coming in at 11.5%, on their way to the 13-15% medium-term target. TOP V was hinted at (could hear more in July) and, given that finding efficiencies has been one of management’s strengths, we see no reason to expect the savings to be off trend from $75-100M in annual savings. Core” efficiency ratio has dropped from 67.6% in 1Q15 to 60.4% in 1Q18 showing a dedication to improvement outside of just NIM expansion.”,” Citigroup’s analyst commented.
CFG has been the topic of several other reports. Zacks Investment Research cut shares of Citizens Financial Group from a buy rating to a hold rating in a research report on Friday, March 23rd. Barclays boosted their price target on shares of Citizens Financial Group from $41.00 to $49.00 and gave the stock an equal weight rating in a research report on Tuesday, January 2nd. Deutsche Bank upgraded shares of Citizens Financial Group from a hold rating to a buy rating and set a $34.00 target price on the stock in a research report on Tuesday, April 3rd. Sanford C. Bernstein set a $52.00 target price on shares of Citizens Financial Group and gave the stock a buy rating in a research report on Monday, January 22nd. Finally, ValuEngine upgraded shares of Citizens Financial Group from a hold rating to a buy rating in a research report on Wednesday, March 7th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Citizens Financial Group presently has a consensus rating of Hold and an average price target of $42.64.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, April 20th. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts forecast that Citizens Financial Group will post 3.37 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of Citizens Financial Group by 142.4% during the 4th quarter. Lazard Asset Management LLC now owns 9,027,728 shares of the bank’s stock worth $378,984,000 after acquiring an additional 5,303,357 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Citizens Financial Group by 1.7% during the 4th quarter. TIAA CREF Investment Management LLC now owns 6,472,422 shares of the bank’s stock worth $271,712,000 after acquiring an additional 108,354 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Citizens Financial Group by 165.0% during the 4th quarter. Allianz Asset Management GmbH now owns 4,630,564 shares of the bank’s stock worth $194,390,000 after acquiring an additional 2,883,422 shares during the period. Teachers Advisors LLC lifted its holdings in shares of Citizens Financial Group by 6.6% during the 4th quarter. Teachers Advisors LLC now owns 3,759,299 shares of the bank’s stock worth $157,815,000 after acquiring an additional 232,942 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Citizens Financial Group by 5.6% during the 4th quarter. LSV Asset Management now owns 3,419,848 shares of the bank’s stock worth $143,565,000 after acquiring an additional 182,100 shares during the period. 97.12% of the stock is owned by institutional investors.
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Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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